Hiq interim report for january-september 2002

Wed, Oct 23, 2002 09:08 CET

HiQ - INTERIM REPORT FOR JANUARY - SEPTEMBER 2002
HiQ is an IT and management consultancy that focuses on high-tech
solutions in the fields of communication and simulation technology. The
company is a leader in these fields and the Nordic region is its
domestic market. HiQ employs 450 people at offices in Sweden, Finland,
Denmark and Norway. HiQ is listed on Stockholmsbörsen (the Stockholm
Exchange). For more information, please visit www.hiq.se.
Interim report for HiQ International AB (publ), corporate identity no.
556529-3205.
HiQ - stabilisation in a tough market
·Net sales of SEK 304.5 (378.0) million.
·Profit before goodwill (EBITA) of SEK 11.5 (53.8) million,
equivalent to a margin before goodwill amortization of 3.8 %.
·Maintained positive cash flow from operations.
·In September HiQ was commissioned by De Lotto (Dutch National
Lottery) to integrate Veikkaus's OnNet gaming platform.
·HiQ lab is launched in August for interoperability testing of
products for mobile communication.
·In June HiQ received an order from the Swedish Defence Material
Administration (FMV) worth SEK 40 million for training simulators for
JAS 39 Gripen, adding to an order placed in March worth SEK 24 million.
·Acquisition in April of Softplan, a profitable Finnish IT
consultancy with 50 employees in Helsinki.
·New framework agreement signed in April with Nokia Mobile Phones in
Denmark.
·New framework agreement as preferred supplier within research and
development, IS/IT and technical documentation signed with Ericsson in
April.
Market development
The market in general continues to be tough with signs of stabilisation.
Customers are prioritising quick cost savings, profitability and
efficiency.
The reduction in the number of players in the consulting sector has
provided HiQ with new business opportunities and a chance to increase
our share of the market. We have a well-established brand, strong client
relations and financial position, making us a player with the potential
to further increase our market share in the future.
HiQ is continuing to focus on business opportunities and on improving
efficiency within the company. These efforts are increasing our
potential for considerable profitability in the current market
situation.
HiQ is continuing to expand its operations, both geographically and in
different market sectors reducing dependence of single client segments.
The distribution of HiQ's sales during the period is as follows:
Telecoms 48 per cent (64), Defence 20 per cent (15) and other sectors 32
per cent (21).
During the period HiQ forged new agreements with, among others,
AstraZeneca, the Swedish National Rail Administration, De Lotto,
Emergency Center of Helsinki, Ericsson, the Swedish Defence Material
Administration, Hi3G, the Swedish Emergency Management Agency, Nokia,
Nordea, Novo Nordisk Engineering, Orange Global, the Swedish National
Police Board, Saab Avionics, Sony Ericsson, Swedish Match, Telia and
Vodafone.
Regions
There are continued differences in the market situation between the
regions where HiQ International is active. In Finland, Denmark and Skåne
(the southern part of Sweden) demand is still strong.
Our new companies in Skåne and Finland are developing well and according
to plan.
A high concentration of consultants is evident in Stockholm and
Gothenburg, but has decreased during the period.
HiQ Väst AB, one of HiQ´s two subsidiaries in Gothenburg, has new
management since the middle of October.
The Board of Directors of HiQ International AB
This report has not been reviewed by the company's auditors.
For further information, please contact:
Lars Stugemo, President and CEO HiQ International AB, tel. +46(0)8 588
90 000
Anna Svensson, CIO HiQ International AB, tel. +46 (0)8 588 90 015, +46
(0)704 200 103
------------------------------------------------------------
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2002/10/23/20021023BIT00120/wkr0001.doc The full report
http://www.waymaker.net/bitonline/2002/10/23/20021023BIT00120/wkr0002.pdf The full report

About Us

HiQ helps to make the world a better place by making people’s lives simpler through technology, design and communication. We are the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ has over 1,600 specialists in five countries and is listed on the Nasdaq Stockholm Mid Cap list. For more information and inspiration, please visit www.hiq.se.